NEW DEVELOPMENTS AND ASSIGNMENTS IN TORONTO

Many projects are in there final stages of sales and are offering some great deals and incentives. Never before has it been such a good time to buy.

Reason to Work with Ashley

1) We have no interest in any one development. We can compare developments and advise you on which ones are the most potential suited to your needs & requirements.

2) Many Developers are giving incentives, Find Out which ones are best for you.Ashley can also advise and help you negotiate on closing costs, upgrades, deposit schedules, etc. Ashley has sold 100's of new condos, He has pre-sold entire buildings (LONDON ON THE ESPLANADE) and worked with many different developers.

3) We can get you to the font of the line and sometimes pull units on special MARKET holds! Most successful projects are 50% sold before they even reach the public. Just ask my many clients who recently bought at projects like Pier 27 - they also profited between $50,000 and $80,000 on the value of their suite in 1 DAY as prices increased for the public release. Ryan Krugar

4) Ashley knows the best units to buy and the ones to avoid. Floor plans, views, exposures, etc. are critical in achieving price appreciation whether you will be living in the suite yourself or for investment.

5) Finally, when you visit a new condo project, the salesperson on-site works for the developer - who is working for you? Best of all Ashley's expertise costs you nothing as the developer pays the commission. It could save you $5,000 to 10,000's.

NEW CONDO MARKET IS CHANGING IN TORONTO

When the market exploded 10 years ago, the mix of buyers was about 60% end users or consumers and 40% investors. Today it is almost 100% investors! Why?

From the time one buys a new development until it is built and registered is four years on average. Just think of a single male (or female) who buys a one bedroom unit. In four years, they could be married and possibly expecting a child – they then need something bigger and they have to sell before they even move in! So why buy something for the future? Also today's younger generations want everything now – not in 4 years.

Among investors, it is clear that there are two types. The first, let's call then ‘cash on cash' investors want to buy with 20-25% down and rent the units out. It made economic sense for several years. The problem now is that condo prices have continued to rise but rental rates have been stagnant for the past three years. Now it makes little sense to buy and rent out condos in Toronto. We call these types of investors 'North American Style Investors'

There is second group of investors – mainly Asians and Middle East nationalities who pay ‘all cash’. Currently they can get about 3-4% on buying and renting out their condos. Their rationale is that the returns are better than leaving their cash in the bank. So they continue to buy.

Currently we have a lot of new condo developments coming to market this Fall. The problem is that developers have only about 60% of the investors that they had before. My prediction: a lot of new developments will pre-sell only 50-60 % of the units. How do they get to 70-75% to get construction financing?

Do developers make special deals – selling 50 units to a single investor group at a big discount? Or do they pull the plug? We won’t know the answers until 2012!

WANT TO KNOW THE VALUE OF YOUR HOME?

FILL IN THE FORM AND YOU WILL RECIEVE THE COMPARABLE PROPERTIES AND VALUE OF YOUR HOME IN TWO DAYS!!